Proof of Stake (PoS) - News, Opinion & and Analysis

Proof of Stake (PoS)

366 Articles 13 Followers

Proof of stake (PoS) is a type of consensus algorithm used by a public blockchain network to achieve distributed consensys. It is an alternative to the widely known Proof of Work (PoW) consensus algorithm used by Bitcoin and other cryptocurrencies. 

PoS was initially introduced in 2011 on the Bitcointalk forum to solve problems faced by the popular PoW algorithm. In 2012, a cryptocurrency named Peercoin was the first to implement the new consensus algorithm. Since then, a number of leading cryptocurrencies have adopted PoS including NEO, EOS, Cosmos, Waves, Tron, and others. Ethereum is also migrating to a PoS consensus algorithm with its upcoming Casper implementation.

The main advantages of PoS over PoW are energy efficiency, security, reduced centralization risks, new economic penalties to prevent various attacks, and the issuance of new coins can be reduced because participants are incentivised to stake coins to participate in the network rather than mine them. 

In PoS-based public blockchains, new blocks are forged or minted rather than mined like in PoW. The new blocks are minted from a set of validators who lock up their cryptocurrency into a deposit. Validators then receive a reward for staking their tokens and minting new blocks and validators with a larger stake receive more rewards. Therefore, individuals are incentivized to partake in the system. 

While PoS presents various advantages over PoW, it is not without downfalls. Some experts argue that PoS is not ideal for a distributed consensus algorithm, claiming there is a "nothing-at-stake" problem. However, there are different solutions that various projects are working on and implementing to combat issues surrounding PoS.

In this tag you can discover proof of stake (PoS) news, cryptos, opinions and analysis created by knowledgeable individuals on the matter.


US DLT eVoting in 2022? A Crypto Way Forward

7 Nov 2020 5 minute read 10 comments thunderboltkid

Distributed Ledgers, which are permissioned (ID ratified) and public hold great promise for evoting.  A properly designed, "by State" sharded, vote  summary 'roll-up' into such a distributed ledger of this type, would have the "TPS" Transactions per...

Ethereum 2.0 - Staking Is Live

6 Nov 2020 1 minute read 3 comments Sapphire

Deposit Contract Live Many Ethereum advocates and fanatics have been eagerly awaiting this day and it has finally arrived. Although ETH 2.0 is not fully launched and may take some time to actually be completed, ETH holders can begin staking their 32...

$6.5 Million Staked as ETH 2.0 Deposit Contract Goes Live

5 Nov 2020 1 minute read 9 comments Abhimanyu Krishnan

The deposit contract for the ETH 2.0 upgrade went live on the mainnet on Nov. 4, as announced by the Ethereum Foundation. The deposit contract is the first step of the migration towards Ethereum 2.0, which will operate on a Proof-of-Stake mechanism...

How Does Crypto Mining Work?

4 Nov 2020 5 minute read 2 comments MintDice.com

With all the chatter and buzz surrounding cryptocurrencies, many people have taken the first step and purchased some crypto, most likely Bitcoin. As you start to trade different cryptos and make transactions, it’s easy to start wondering how your cry...

A month of multiple partnerships & collaborations - NEM Ecosystem | NIS1 | Symbol Blockchain

3 Nov 2020 1 minute read 1 comment ultron91x

Hello folks, October 2020 was a great month for NEM ecosystem because we saw many partnerships, integrations and collaborations. So, I decided to either write an article or create a video for community so that everyone would be aware about it. After...

PoS- A PoS? - Staking- The Claim of Decentralized Consensus and Reward Distribution, Unrealized. The TK fix

1 Nov 2020 9 minute read 9 comments thunderboltkid

Witness EOS, Where 11 wallets control most of the wealth within that  crypto "Ecosystem' Earning rewards every Epoch. Not good. Is there a better, improved way to Stake (Proof of Stake) and earn rewards for providing Consensus services  to settle tr...

How to stake Zilliqa (ZIL) on Atomic Wallet

30 Oct 2020 2 minute read 25 comments PVMihalache

Why the Zilliqa HYPE? Zilliqa staking is now available on the desktop version of Atomic Wallet, while the mobile staking will be available soon. If you don't have Atomic wallet and have questions on how it works, you will find answers in the Atomic W...

Taurus enables secure Tezos staking infrastructure for institutional use-cases

30 Oct 2020 2 minute read 2 comments Allen Walters

Since the start of the cooperation between the Tezos Foundation and Taurus Group in the end of 2019, Taurus Group has deployed a strategic roadmap to work towards institutional adoption. In February 2020 Taurus integrated the Tezos protocol into its...

MyCointainer - Looking For More Staking Options With Great Yields?

29 Oct 2020 1 minute read 4 comments Sapphire

A More Extensive Alternative To Stakecube Staking continues to be a viable way of making fairly safe passive income from my Crypto holdings. There are a lot of other options currently, thanks to DeFi and farming but the safer aspect of staking is sti...

Overview of Symbol Blockchain | An enterprise blockchain from NEM | Symbol Opt-In Demo

27 Oct 2020 1 minute read 1 comment ultron91x

NEM is a group of individuals who trust each other to deliver and wants to shape the future of blockchain by sustaining a strong and healthy ecosystem that will contribute to the development of blockchain technology for generations to come, which wi...